European Commission publishes new EU strategy for Corporate Social Responsibility

The European Commission has published a new strategy for CSR - including a new definition - and is calling for European business leaders to issue an open and accountable commitment to promote, in close cooperation with public authorities and their other stakeholders, the uptake of responsible business conduct by a much larger number of EU enterprises.

The European Commission’s new strategy on corporate social responsibility (CSR), part of a package of measures on responsible business, aims to help enterprises achieve their full potential in terms of creating wealth, jobs and innovative solutions to the many challenges facing Europe's society. It sets out how enterprises can benefit from CSR as well as contributing to society as a whole by taking greater steps to meet their social responsibility

The new strategy is a response to the Council and the European Parliament call for the Commission to further develop its CSR policy. In the Europe 2020 Strategy, the Commission undertook to renew the EU strategy to promote Corporate Social Responsibility. In its 2010 communication on industrial policy the Commission said it would put forward a new policy proposal on CSR. In the Single Market Act it stated that it would adopt a new communication on CSR by the end of 2011.

The report states: “The economic crisis and its social consequences have to some extent damaged consumer confidence and levels of trust in business. They have focused public attention on the social and ethical performance of enterprises. By renewing efforts to promote CSR now, the Commission aims to create conditions favourable to sustainable growth, responsible business behaviour and durable employment generation in the medium and long term”.

More details on the document – which is a ‘must-read’ for every practitioner – is available here http://bit.ly/EUcsrstrat